Some industry insiders have doubts about whether there is sufficient contractor capacity to deal with the expected volume of business.
Faced with a forecast decline in the global upstream service market in 2020 and only modest growth of 3 percent for the four-year period from 2019 to 2022, logic suggests that long-term growth in clean energy, particularly in fast-growing Asian-Pacific markets, offers the path towards growth.
The new tools gather information that companies like oil companies like Norway’s Equinor, Germany’s Wintershall and Anglo-Dutch-owned Shell, plus the Norwegian state-owned pipeline operator Gassco can use to optimise its maintenance plans, while inspection robots can replace time-consuming and costly inspections by humans and cut downtime for certain plant assets.
Last time crude prices crashed, E&P companies cut operations and investment, with knock-on effects on oilfield service contractors, many of whom reduced headcount, went bankrupt or merged. Once again, history is repeating itself. Baker Hughes September U.S. rig count saw just 898 active rigs, a reduction of 150 from this […]
We meet six young innovators who are leading the way in using their skills and talent to shape the future of technology. America’s Microsoft, Google, Apple, Facebook and Amazon, as well as China’s Alibaba and Tencent, have touched the lives of countless millions. Hard on the heels of these titans of the […]